A Competition Competition

The Business Accelerator for Southeast Michigan (composed of four Michigan-based business accelerators) recently announced the Accelerate Michigan Innovation Competition, an international business plan competition designed to fuel innovation-based business growth. Considered the world’s largest business plan competition, it will expose local and global entrepreneurs to potential opportunities and financial incentives that can lead to long-term growth.

While the competition is mainly geared towards those already in the private sector, there is also a component strictly for students enrolled at a college or university in Michigan in which the grand prize winner will be awarded $25,000. The competition started on August 24 and will end with an awards ceremony in Ann Arbor on December 11. While the competition is Michigan-centric, if successful the plan could be seen as a way to help speed the transition to innovation-based economies both regionally and nationally.